Shares of ACC Ltd. were trading at Rs 2,083.10 on the Bombay Stock Exchange (BSE) at 11:11 AM (IST) on Thursday, reflecting a modest 0.18% increase from the previous close. Despite the slight rise, the stock’s performance highlights its resilience in a market that saw more stocks in the red than the green.
Key Highlights:
- Stock Price Movement: The stock opened with a gap up during the morning session, signaling investor optimism. However, its trading price remains below its 52-week high of Rs 2,843.00 but comfortably above its 52-week low of Rs 1,867.15.
- Trading Volume: By 11:11 AM, a total of 1.765 lakh shares had been traded, reflecting robust market activity for the stock.
- Market Metrics: The market capitalization of ACC Ltd. stands at Rs 39,134.87 crore. The stock’s price-to-earnings (P/E) ratio is 19.15, indicating a balanced valuation relative to its earnings, while the price-to-book value ratio is 2.87. Additionally, the company’s return on equity (ROE) is reported at a healthy 14.3%.
Broader Market Context:
ACC’s performance came amid a mixed day for the broader market. Within the BSE500 index, 169 stocks were trading in the green, while 330 stocks were in the red, showcasing a bearish tilt in market sentiment. Despite this, ACC managed to hold its ground, reflecting investor confidence in the company’s fundamentals.
Ownership Structure:
As of September 30, 2024, promoters held a majority stake of 56.69% in ACC Ltd. This strong promoter holding underpins long-term stability and confidence in the company’s prospects. Meanwhile, foreign portfolio investors (FPIs) owned 5.5% of the company, and domestic institutional investors (DIIs) held a significant 24.32% stake. Retail and other investors made up the remainder.
Outlook and Analysis:
ACC Ltd. has demonstrated robust financial health, as reflected by its P/E and ROE metrics. The company’s balanced valuation and consistent performance make it an attractive option for investors seeking steady returns. However, the stock’s inability to reclaim its 52-week high suggests cautious optimism among investors, possibly due to broader market uncertainties or sector-specific challenges.
As ACC Ltd. trades at Rs 2,083.10, its steady performance amid mixed market conditions underscores its appeal as a fundamentally strong stock. While market participants continue to weigh macroeconomic factors, the company’s strong promoter backing and solid financial ratios position it as a reliable choice in the cement sector.
